During September, Khan had sales of 148,000, which made a gross profit of 40,000. Purchases amounted to 100,000 and opening inventory was 34,000. The value of closing inventory was?
A) Rs. 24,000
B) Rs. 26,000
C) Rs. 42,000
D) Rs. 54,000
Correct Answer:
Verified
Q8: Which type of inventory system is updated
Q9: What is the principal criterion used to
Q10: Which of the following method is suitable
Q11: The inventories are recorded at the latest
Q12: Which one of the following methods for
Q14: Which type of inventory system requires updating
Q15: In LIFO method of inventory valuation?
A)Issue of
Q16: In FIFO method of inventory valuation?
A)Closing stock
Q17: Which one of the following does not
Q18: Systematic evaluation of the trade-offs between product
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents